ING buys Santander Latam pension unit

ING has agreed to take over the Latin American pension activities of Spanish bank Santander for €960m. The takeover will be paid for in cash.

The pension company has some 5.5 million customers and invested assets of just over €10bn.
Santander is currently involved in a bidding war for ABN Amro but said this divestment was not necessary to raise cash for the takeover.

Thank you for donating to

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation